When to Consider Using a PEO
Every company ever created has something it does – it’s core business. As that company grows, it will need employees to operate more efficiently, to drive profit and to prosper.
Hiring employees is vital to your business and what goes along with having employees is just as vital. In business, your biggest expense will always be your payroll and employees.
PEOs have grown in popularity because they help companies build and let you focus on your actual business.
Because of increased state and federal laws, the lunacy surrounding medical insurance and the rising costs of running a company, it’s tough to operate.
Here are some reasons to consider a PEO…
1- to gain control of your medical increases, offer affordable plans that are benefit rich. In the NY market, often benefits and what employers offer beyond pay, are considered when deciding on an employee joining your company.
2- you need a solution to streamline the management of your HR, State, and Federal compliance, payroll and Workers’ Compensation and, medical insurance.
3- you have a very limited staff in HR, are utilizing your CFO/COO, or you have little to no experience in human capital management. PEOs enable small companies with little to no HR staff to stay compliant because they utilize the PEO’s staff.
4- Companies that operate in multiple states have substantial State and Federal compliance and fluctuating State Unemployment rates. A PEO alleviates those headaches because the PEO does all of those things for you and stabilizes your State Unemployment rates.
5- PEOs help their clients attract and retain top talent while giving you peace of mind and the ability to focus on your core business.